Goods and Services Tax : Get a detailed summary of the latest GST notifications and circulars issued on 10 July 2024, including changes in GSTR 1, ISD mech...
Goods and Services Tax : Explore the major decisions from the 53rd GST Council Meeting, including tax rate changes, compliance relaxations, and new measure...
Goods and Services Tax : Tamil Nadu AAR ruling clarifies GST applicability on goods sold from 3P FTWZ to bonded warehouse under MOOWR scheme. Analysis of S...
Goods and Services Tax : Explore the implications of GST on hotels & restaurants in India. Detailed analysis of rate changes, billing procedures, and indus...
Goods and Services Tax : Today, we are talking about cross empowerment of the Central and State Authorities under GST. It has been seen there is ambiguity ...
Goods and Services Tax : Explore the Ministry of Finance latest report on GST revenue collection in October 2023. Discover detailed analysis, state-wise fi...
Goods and Services Tax : CGST Mumbai South Commissionerate arrests a fake GST invoice racketeer, uncovering a Rs. 263 Crore fraud involving Rs. 7.66 Crores...
Goods and Services Tax : I propose that the CGST Department consider the introduction of a mechanism to remit interest on un-utilized ITC. Much like the sy...
Goods and Services Tax : In July 2023, India's GST revenue collection reached ₹1,65,105 crore, marking an 11% YoY growth. Domestic transactions saw a 15%...
Goods and Services Tax : Requested to provide one-time amnesty by waiving-off the late fees under section 47 and penalty under section 125 of the CGST Act ...
Goods and Services Tax : Madras High Court rules that appeals cannot be dismissed for procedural lapses, emphasizing timely filing. Key case: Indian Potash...
Goods and Services Tax : Calcutta HC rules IGST credit wrongly claimed instead of CGST and SGST need not be reversed. Key details on the Cosyn Limited case...
Goods and Services Tax : Explore the detailed analysis of Andhra Pradesh High Court verdict in Raghavaiah Thelapalli v. State of Andhra Pradesh and Ors., s...
Goods and Services Tax : Learn about the dismissal of Best Recharge appeal regarding interest payment on excess Input Tax Credit. Details of the case and c...
Goods and Services Tax : HC held that According to Section 12 of Limitation Act, 1963, the day order was signed and the day judgment was pronounced shoul...
Goods and Services Tax : Ministry of Finance updates Central Tax rates for railway services. Notification No. 04/2024 details tax exemptions. Effective fro...
Goods and Services Tax : CBIC notifies via Notification No. 03/2024 that agricultural packages over 25kg/25L are not considered 'pre-packaged and labelled'...
Goods and Services Tax : CBIC's Notification No. 02/2024 lowers GST rates on cartons, milk cans, solar cookers, and brooders' parts, effective 15th July 20...
Goods and Services Tax : CBDT shifts CGST functions to Superintendents of Central Tax. Circular No. 223/17/2024-GST details changes for registration and co...
Goods and Services Tax : Notification No. 15/2024-Central Tax dated 10th July 2024: E-commerce operators (not agents) now collect 0.25% (reduced from 0.50%...
1. Introduction 1.1 Dawn of GST started with a proposed system of undertaking transaction-level matching in the form of GSTR 1, 2 & 3 to check the claim of input tax credits (ITC). Further, the provisions in the law were also drafted keeping the proposed system in mind. However, due to the reasons best known […]
Article explains GST Provision related to Blocked Credit under section 17(5) of CGST Act 2017 on Supply of Goods /Service involved, Insurance of Motor Vehicle including motor cycle, Cost of Motor Vehicle, Servicing of Motor Vehicle, Life Insurance/health insurance of Worker & office Staff, Food & Beverages, Works contract service & Goods & Service for […]
Roshani Sana Jaiswal Vs Commissioner of Central Taxes (Delhi High Court) Delhi High Court which ruled that personal bank accounts of promoters cannot be attached under CGST 1. The respondent, before triggering the provisions of Section 83 of the Act, had to satisfy itself that there was a ‘pending’ proceeding under the provisions of Section […]
Section 16 (2) of CGST ACT of 2017 This second proviso to section 16 (2) of the CGST ACT provides the where a recipient fails to pay to the supplier of goods or services or both, other than the suppliers on which tax is payable on reverse charges mechanism basis, the amount towards the value […]
Introduction: The GST regime brought numerous changes to the pre-GST regime taxation. It brings various transactions into GST net which otherwise not liable to tax in pre – GST era by way of wide inclusive definition of supply and business further by way of Schedule I to supply. In this article author made an effort […]
M/s. Shree Gobind Alloys Pvt. Ltd. Vs Union of India and others (Orissa High Court) Section 16(2)(c) of CGST Act, 2017 provides Input Tax Credit should be allowed to the recipient only when supplier has discharged the Output Liability through utilization of input tax credit admissible in respect of the said supply or by cash […]
1. Waiver of Interest for the delay in deposit of tax for the month of March and April 2021 (Notification 08/2021-Central Tax dated 01st May 2021) 1. Taxpayer having turnover of more than Rs 5 crores 15 days from the due date: – 9% of the tax payable After 15 days from the due date:- […]
Introduction: 1. COVID–19 situation has been absolutely alarming and the Central & State Governments alongwith local authorities are trying their level best to combat the current situation. To ease the burden, there are certain relaxations announced by the CBIC like the relaxations announced in 2020. The present note explains the relaxations announced vide various notifications […]
A. GSTR 3B Reduction in rate of interest and waiver of late fees – March 21 & April 21 Vide Notification No. 08/2021 – CT dt. 01.05.2021 as well as Notification No. 01/2021 – IT read with Notification No. 09/2021 – CT dt. 01.05.2021, the relaxations are as under for the given tax period: Taxpayer […]
RELAXATION IN GST COMPLIANCE’S UNDER-COVID-19 (NOTIFICATION NO. 08/2021 and 09/2021- CENTRAL TAX DATED 01.05.2021) INTEREST RATE RELIEF Turnover Tax period Due Date Interest Rate Relief Late Fee Relief More than 5cr March,21 April,21 20.04.2021 20.05.2021 First 15 Days-9% After 15 Days-18% 15 days from due date of return- No Late Fee Up to 5cr Opting […]
